AUDUSD, H4 reversed from our Pivot point, potential for a rise !
Description
Price reversed from our Pivot point of 0.75583, which is in line with our 61.8%, 161.8% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical support, where we could see a potential rise from this level to our first resistance level of 0.76511, in line with a fibonacci confluence. It is noteworthy that price is trending above an ascending trendline, in line with our bullish view.
Pivot: 0.75583
Why we like it:
61.8%, 161.8% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical support
1st Support: 0.75295
Why we like it:
88% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.76511
Why we like it:
161.8%, -27% and -68% Fibonacci retracement.
Trading FX & CFDs carries high risk.
Price reversed from our Pivot point of 0.75583, which is in line with our 61.8%, 161.8% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical support, where we could see a potential rise from this level to our first resistance level of 0.76511, in line with a fibonacci confluence. It is noteworthy that price is trending above an ascending trendline, in line with our bullish view.
Pivot: 0.75583
Why we like it:
61.8%, 161.8% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical support
1st Support: 0.75295
Why we like it:
88% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.76511
Why we like it:
161.8%, -27% and -68% Fibonacci retracement.
Trading FX & CFDs carries high risk.
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